Financial statements from Singapore

Schmidt & Schmidt offers financial statements from Singapore in electronic form and their translations into English.

According to local law all Singapore companies are required to submit annual reports. Information is transmitted electronically through a special online service.

The filing of financial statements in Singapore is governed by the Accounting Act and other regulations.

The accounting system in Singapore is based on International Financial Reporting Standards (IFRS). Public companies are required to use IFRS. In addition, small and medium-sized enterprises enjoy this right.

Singapore companies submit annual reports to the Accounting and Corporate Regulatory Agency (ACRA). The Agency has special departments that are responsible for receiving annual reports and for checking it.

The annual report must be submitted within 1 month from the date of the annual meeting of shareholders.

Full annual report includes:

• Corporate profile
• Management comment
• Corporate governance report
• Statutory report
• Annual financial report

Full annual financial statement includes:

• Balance sheet
• Profit and loss report
• Cashflow
• Statement of changes in equity
• Audit report

Financial statements provide detailed information about a company’s financial state, solvency and performance of an enterprise. Depending on the size of the enterprise, its financial statement can contain up to several hundred pages.

The provision of financial and balance sheets is carried out through the special online services ACRA. ACRA can also provide a consolidated financial report on the activities of the company for 3 years.

To search for financial statements, you need the exact name of the company and its registration number.

Financial statements can provide valuable information about potential business partner which can be used for making decisions like purchasing capital shares or goods or taking legal action to collect debts. Financial statements are provided in accordance with the Singaporean legislation and legal requirements on personal data protection.

On our website, you can make a preliminary request if a certain company’s financial statements are obtainable.